Sunday, November 20, 2016

Flipkart today announced it's plans to enter into the grocery space from next year and has planned to scale up operations over the period of 3 years. Big Basket is already the market leader in the segment with many new players coming up like Amazon and Snapdeal. Amazon India had already started a pilot project in grocery delivery with the brand 'Amazon Pantry' and has been quite succesful in many cities.

Flipkart CEO Sachin Bansal said that Flipkart is seeing a huge potential in this area and in coming years, it will be equivalent to the electronics and apparels segment in terms of market share. He also said that there is definitely room in this highly profitable business but it's hard and not impossible.

According to Bank of America, the value of goods sold in India online accounts to $188 billion with ten fold jump by 2025.

India's e-commerce business is in nascent stage and there is several fold growth possible in the future. Indians prefer buying apparels to smartphone online making e-commerce market as fast growing business in India

In 2015, Flipkart launched Nearbuy App with th eaim of delivering groceries. But in not more than 5 months from the launch, Flipkart had closed the business saying that it was a pilot project and Flipkart didn't concentrate in its promotion.

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About Praveen PenugondaHave interests in multiple aspects and write articles on Technology, Lifestyle and Finance. Tracking developments since the launch of Nokia 1100 and completion of Human Genome Project